Foxconn Considers Joint Investment With Apple to Open $7 Billion Display Plant in the U.S.

Foxconn is considering a $7 billion joint investment with Apple to open a display factory in the U.S., reveals Chairman Terry Gou.

"Apple is willing to invest in the facility together because they need the [panels] as well," Gou told reporters following a year end company party in Taipei. The U.S. production site eventually would create 30,000 to 50,000 jobs, said Gou.

The shift in demand towards larger display panels makes local production a better solution than shipping from China, according to Gou. In addition, Foxconn is planning a new molding facility in the U.S. with Pennsylvania being a possible site.

The sudden interest in building new facilities in the U.S. is largely due to President Trump's push for companies to bring back manufacturing to America. Trump has also signaled that he may want to renegotiate NAFTA. Gou says Smart Technologies, a Foxconn controlled interactive display startup located in Canada, may be moved the United States as a result.

While Gou says the rise of protectionism is "inevitable", he questioned whether Americans would accept paying higher for consumer goods. "In the future they may be paying some $500 more for [U.S.] products, but those do not necessarily work better than a $300 phone," he said.

Would you be willing to pay more for your iPhone if it was made in America? Let us know in the comments!

Yes would pay more if it was made in America or Europe, besides Apple iPhone costs 240€ and they are selling it for over 800€ this gab can help sell in same prices and don't be greedy in profits anymore!!! Share holders are really devilish while they want more and more for their money!